MELBOURNE faces the prospect of losing $5 million a year in poker-machine revenue if the club is found guilty by the AFL of "tanking" allegations.

An adverse finding into the claims, the subject of an exhaustive AFL investigation, could also force the resignation of senior staff.

The Victorian Commission for Gambling and Liquor Regulation has the power to withdraw licences to operate electronic gaming machines and force the removal of key officials if it finds an organisation has acted inappropriately.

Melbourne owns the Bentleigh Club, which has 80 machines, and the Leighoak Hotel, at Oakleigh, which has 92 machines.

The Demons pocket about half of the $10 million the two gaming venues turn over annually.

"The Victorian Commission for Gambling and Liquor Regulation will be considering the outcomes of the AFL's investigation in its own inquiry into the matter," a spokeswoman said.

Licensing expert Dennis Galimberti, of Hall & Thompson lawyers, said the commission could discipline a club or associated people if anything happened that meant they were not of good repute in regards to honesty and integrity.

"The VCGLR can also discipline the club even if it is associated with a person who conducts himself in such a way that he is not a person of good repute," Galimberti said.

"If the AFL was to find ... that the club or persons associated with the club have been involved in an attempt to alter the result of an AFL competition match or the organisation or the preparation of a match so that participants don't give their utmost performance, they may well be the subject matter of an inquiry conducted by the VCGLR.

"It may well lead to orders being made for interfering with the licence or requiring persons who are associated with the club to cease being associated with the club."

Melbourne has denied any wrongdoing.

The AFL has received a submission from Melbourne and is expected to soon announce whether the club has a case to answer.

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